American Stock Exchange News Release

Equity Release
Media Contact: Bari Trontz
American Stock Exchange
212-306-8964/bari.trontz@amex.com

AMERICAN STOCK EXCHANGE LISTS UNITS OF EVOLUTION PETROLEUM CORPORATION

New York, July 17, 2006 -  The American Stock Exchange (Amex) today listed the units of Evolution Petroleum Corporation under the ticker symbol EPM.

Headquartered in Houston, Texas, Evolution Petroleum Corporation acquires mature oil and gas fields in order to apply technology and capital to substantially restore production and profitability. The technologies employed and being developed include carbon dioxide enhanced oil recovery and a proprietary artificial lift process.

"The American Stock Exchange is pleased to welcome Evolution Petroleum to our market," said John McGonegal, Senior Vice President of Amex's Equities Group. "In listing at the Amex, we will be able to offer our value-added services that a growing company needs to succeed in today's competitive market."

"We are very pleased with the listing of our shares on the Amex," said Robert Herlin, President and CEO of Evolution Petroleum Corporation. "We consider this move to be one more major milestone accomplished in our growth."

The specialist in Evolution Petroleum Corporation will be J. Streicher. For further information on EPM and other Amex-listed companies, please visit www.amex.com.

About American Stock Exchange

The American Stock Exchange® (Amex®) is the only primary exchange that offers trading across a full range of equities, options and exchange traded funds (ETFs), including structured products and HOLDRSSM. In addition to its role as a national equities market, the Amex is the pioneer of the ETF, responsible for bringing the first domestic product to market in 1993. Leading the industry in ETF listings, the Amex lists 188 ETFs to date. The Amex is also one of the largest options exchanges in the U.S., trading options on broad-based and sector indexes as well as domestic and foreign stocks.